Rahman, who is currently group CEO of CIMB Group Holdings Bhd, was widely tipped to resume his former posts at PNB after Ahmad Zulqarnain Onn was appointed the new CEO of EPF in January.

In a statement, PNB said Rahman’s return would provide continuity and drive the execution of its recently developed strategic plan.

PNB also said it was confident that Rahman, who was PNB president and group chief executive from 2016 to 2019, would help it deliver on its goal of improving the financial lives of Malaysians.

Rahman has more than 20 years of leadership experience in the financial services and corporate sectors, including at Malaysian Resources Corporation Bhd, Media Prima Bhd and Ekuiti Nasional Bhd.

He was also the former non-executive and non-independent chairman of Sime Darby Bhd and Velesto Energy Bhd.

In a separate statement, CIMB said Rahman would step down as group CEO of CIMB Group on June 30 after having spent four years at the helm.

CIMB said its succession plan had been activated and its board would announce Rahman’s replacement once regulatory approval is received.

“Rahman has done an excellent job driving CIMB’s transformation under our Forward 23+ strategic plans and has been instrumental in putting CIMB on solid footing as a leading focussed Asean bank,” said CIMB Group chairman Nasir Ahmad.

“Under his leadership, the group recorded strong growth in financial performance, strengthened operating resiliency, accelerated its digital initiatives and raised the bar for sustainability. He also helped instil a strong CIMB culture.”